The team is soon launching the network's revenue share program and the staking process. The announcement triggered a surge in the number of new investors, including many Safemoon members. Everyone wants to stake a Bitrise coin and enjoy the 80% APY as well as earn the BNB rewards for holding the token.
It came after the electric car company bought $1.5b (£1.06b) of Bitcoin shares, which in turn sent the market price of both the crypto and Tesla soaring.
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In June, SafeMoon launched a beta version of SafeMoon Wallet, a place for storing and trading coins and required applicants to sign non-disclosure agreements.
Interestingly, the breakout was initiated right as a report from the United States Bureau of Labor Statistics (BLS) showed a sharp 6.2% annual rise in the Consumer Price Index (CPI), a figure that has hit its highest mark in 30 years.
This data is not stored on our server, it is fetched directly from the network. All values are estimates and may or may not be accurate.
In addition, V2 features include “increased quality, security and accessibility of SafeMoon” in anticipation of what the project describes as a “warp-speed future.”
The first thing to note is that Safemoon is not currently listed on any major cryptocurrency exchanges such as Binance or Coinbase. Due to this, the amount of liquidity is relatively low, meaning that technical analysis isn’t as accurate as digital coins with high liquidity. The low liquidity of Safemoon means that large buy orders tend to boost price significantly – which, in turn, leads more people to buy into the ‘hype’.
This is the latest in a string of recent high-profile trading problems in crypto. Synthetify, a new decentralized exchange, was forced to shut down for a while earlier this month shortly after its debut because of bad data provided by the Pyth Network, a price feed backed by some of the world's most well-known trading and exchange firms. Pyth malfunctioned another time in September, erroneously making it appear that Bitcoin had crashed 90%.
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As the record of a cryptocurrency’s entire transaction history to date, a blockchain has a finite length — containing a finite number of transactions — that increases over time.
Affiliation Department of Computer Science, University College London, London, United kingdom http://orcid.org/0000-0002-1920-4658 Cryptocurrency price drivers: Wavelet coherence analysis revisited Ross C. Phillips, Denise Gorse Published: April 18, 2018 https://doi.org/10.1371/journal.pone.0195200 Article Authors Metrics Comments Media Coverage
Laith Khalaf, financial analyst at investment platform AJ Bell, previously told The Sun that although long-term investment is encouraged, SafeMoon "doesn't sound too different from a pyramid selling scheme".
This data is not stored on our server, it is fetched directly from the network. All values are estimates and may or may not be accurate.
CYNTHIA LUMMIS: My son-in-law has a shirt that says friends don't let friends sell bitcoin. And that is my investment strategy for bitcoin.
A layer-one smart contract platform, Fantom, is another take on smart blockchain commonly represented by Ethereum, Solana and the likes. However, its compatibility with the ERC20 standard ensures that users can purchase an Ethereum-compatible FTM token, which can be converted to a native FTM compatible token once they initiate a transfer to their wallet.
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These are just some of the reasons Bitrise crypto coin has hit the $200m market cap so fast. The token has exciting features that are appealing to thousands of crypto investors. With the upcoming staking process and launch of the revenue sharing program, the coin's market cap is projected to jump even higher.